Elements – NBC Institute

FA – May 2021 – L1 – SA – Q1 – Elements of Financial Statements

Tests knowledge on the correct definition of assets.

Question

Which of the following is NOT correct about the definition of assets?

A. Resources which an entity must control
B. Resources which an entity must own
C. Resources which are expected to bring future benefits to an entity
D. Resources that their costs can be reliably measured
E. Resources for which liabilities arise from past events

Answer

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Tags: Assets, Definition, Elements, Financial Statements
Level: Level 1

Topic: Elements of Financial Statements
Series: MAY 2021

AA – Nov 2016 – L2 – Q4b – Completion Procedures and Reporting

List and explain the basic elements of an audit report as per ISA 700.

Question

ISA 700 “Forming an Opinion and Reporting on Financial Statements” indicates the basic elements that will ordinarily be included in the audit report.

Required:
List SIX basic elements of an auditor’s report and briefly explain why each element is included in the report. (6 marks)

Answer

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Tags: Audit report, Elements, ISA 700
Level: Level 2

Series: NOV 2016

BCL – Nov 2018 – L1 – Q1e – Tort

State two elements required to establish a case of professional negligence.

Question

State TWO (2) elements of Professional Negligence.

(2 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Duty of Care, Elements, Legal Standards, Professional Negligence, Tort Law
Level: Level 1

Topic: Tort
Series: NOV 2018

FA – May 2021 – L1 – SA – Q1 – Elements of Financial Statements

Tests knowledge on the correct definition of assets.

Question

Which of the following is NOT correct about the definition of assets?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Assets, Definition, Elements, Financial Statements
Level: Level 1

Topic: Elements of Financial Statements
Series: MAY 2021

AA – Nov 2016 – L2 – Q4b – Completion Procedures and Reporting

List and explain the basic elements of an audit report as per ISA 700.

Question

ISA 700 “Forming an Opinion and Reporting on Financial Statements” indicates the basic elements that will ordinarily be included in the audit report.

Required:
List SIX basic elements of an auditor’s report and briefly explain why each element is included in the report. (6 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit report, Elements, ISA 700
Level: Level 2

Series: NOV 2016

BCL – Nov 2018 – L1 – Q1e – Tort

State two elements required to establish a case of professional negligence.

Question

State TWO (2) elements of Professional Negligence.

(2 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Duty of Care, Elements, Legal Standards, Professional Negligence, Tort Law
Level: Level 1

Topic: Tort
Series: NOV 2018

Question Tag: Elements

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FA – May 2021 – L1 – SA – Q1 – Elements of Financial Statements

Tests knowledge on the correct definition of assets.

AA – Nov 2016 – L2 – Q4b – Completion Procedures and Reporting

List and explain the basic elements of an audit report as per ISA 700.

BCL – Nov 2018 – L1 – Q1e – Tort

State two elements required to establish a case of professional negligence.

FA – May 2021 – L1 – SA – Q1 – Elements of Financial Statements

Tests knowledge on the correct definition of assets.

AA – Nov 2016 – L2 – Q4b – Completion Procedures and Reporting

List and explain the basic elements of an audit report as per ISA 700.

BCL – Nov 2018 – L1 – Q1e – Tort

State two elements required to establish a case of professional negligence.

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Question Tag: Elements

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FA – May 2021 – L1 – SA – Q1 – Elements of Financial Statements

Tests knowledge on the correct definition of assets.

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AA – Nov 2016 – L2 – Q4b – Completion Procedures and Reporting

List and explain the basic elements of an audit report as per ISA 700.

You're reporting an error for "AA – Nov 2016 – L2 – Q4b – Completion Procedures and Reporting"

BCL – Nov 2018 – L1 – Q1e – Tort

State two elements required to establish a case of professional negligence.

You're reporting an error for "BCL – Nov 2018 – L1 – Q1e – Tort"

FA – May 2021 – L1 – SA – Q1 – Elements of Financial Statements

Tests knowledge on the correct definition of assets.

You're reporting an error for "FA – May 2021 – L1 – SA – Q1 – Elements of Financial Statements"

AA – Nov 2016 – L2 – Q4b – Completion Procedures and Reporting

List and explain the basic elements of an audit report as per ISA 700.

You're reporting an error for "AA – Nov 2016 – L2 – Q4b – Completion Procedures and Reporting"

BCL – Nov 2018 – L1 – Q1e – Tort

State two elements required to establish a case of professional negligence.

You're reporting an error for "BCL – Nov 2018 – L1 – Q1e – Tort"

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